Now that you are a bit more grown up, you hopefully understand that that is what capitalism is about, not communism = competing away the margins. <<Ideally, GDP would go to zero and everybody would have everything they want and they could spend all day doing anything they like = zero GDP but a fantastic life.
Wow, that is what communism is about when I was in grade school. >>
A good example is the cost of calculators, which in 1974 cost me [for a scientific calculator] NZ$220 which was 4% of my annual gross pay as an engineer. 4% of a New Zealand engineer's pay would now be about $4,000. But such a calculator now costs about $10 as a separate device. More conveniently, you can get a much better one built into your Cyberphone for zero cost and integrated with GPS [also zero cost], a high resolution camera [nearly zero cost], video [pretty much zero cost], word processing [free], apps galore [free or nearly so], and a lot more besides.
That's not communism. That's capitalism, aka free enterprise.
It's the way pretty much everything is going. Beachfront property in main cities is still not cheap though.
Now you know why GDP can decline but life improve.
That process has enabled the world's biggest rort - the Federal Reserve has diluted the dollar for decades and gets away with it because productive creative people have made everything much better for much less money. Soon, Uberized autopilot electric cars costing nearly nothing per km will make motoring nearly free while clearing the roads, improving safety to airline standards, making travel times a tenth of rush hour current speeds. No more insurance, capital cost of your own car, repairs and maintenance, diesel exhaust, paying a driver, no parking fees. Woohoo!!
Happy to give you economics and politics lessons.
Tradable Citizenship RULE$ OK.
Mqurice |
